In my last post, I wrote about how implementing the use of a claims app can also increase renewals due to customers liking the ease and dependability of you and your agency. While on the topic of renewals, let’s talk more about how to increase them, why some customers don’t renew and how to maintain and increase current customer renewal.
According to therocketreerells.com, you can care about your clients and give them the best service and price available and still have a high turn rate. This is because, regardless of how much you think you care about your clients, over time clients start to feel like you don’t care about them or are indifferent to their insurance needs. Finding out how your clients are feeling and what they are needing can be done using surveys and annual coverage reviews.
Another great way to make sure your clients will renew with you is to catch them before it is time to renew. Insurancesplash.com has three recommendations for pre-renewal clients;
- Pre-renewal phone
- Pre-holiday renewal cards
- Remind clients of the benefits of longevity
The pre-renewal phone call is great. It’s a way to check-in and thank your clients for their continued loyalty and offer to answer any questions or concerns they may have. Insurancesplash is realistic and doesn’t recommend calling all your clients, but to concentrate on the ones who you think might want to switch.
Pre-holiday renewal cards, are a fun, unexpected way of providing a friendly reminder with a holiday twist. Again, you are only sending it to your clients who will be renewing the following month.
Remind clients of the benefits of longevity. Claim adjusters look at longevity with a company. Now, this will not be as much of an issue with a straightforward claim, but if the claim goes either way (and claims often can) a 10-year client will get coverage at times that a first-year client will not.
Renewals are tricky, but staying in contact with your clients and listening to their wants and needs could be the difference between a new client, a resigning client and a goodbye client .